“We Are Rewriting the Social Contract,” Says Tinubu as He Signs Landmark Tax Reform Bills
President Bola Tinubu says the newly introduced tax reform bills will deliver “the first major, pro-people tax cuts in a generation,” providing much-needed relief to low-income earners, small businesses, and struggling families across Nigeria.
In a statement released on Thursday ahead of the official signing of the bills, Tinubu announced that the reforms mark a new era in Nigeria’s economic governance.
“In a few hours, I will sign four landmark tax reform bills into law, ushering in a bold new era of economic governance in our country,” the president said.
“These reforms go beyond streamlining tax codes. They deliver the first major, pro-people tax cuts in a generation, targeted relief for low-income earners, small businesses, and families working hard to make ends meet.”
The four bills — the Nigeria Tax Bill (Fair Taxation), the Nigeria Tax Administration Bill, the Nigeria Revenue Service (Establishment) Bill, and the Joint Revenue Board (Establishment) Bill — aim to unify the nation’s fragmented tax structure.
“For too long, our tax system has been a patchwork—complex, inequitable, and burdensome. It has weighed down the vulnerable and shielded inefficiency. That era ends today,” Tinubu declared.
He said the reforms will “eliminate wasteful duplications, reduce red tape, restore investor trust, and promote transparency and coordination at all levels.”
“We are not just signing tax bills but rewriting the social contract,” Tinubu said, adding, “This is our rallying cry: Simplify. Reform. Grow.”
The president emphasized that Nigeria is “betting on a new Nigeria” and building it “block by block.”
